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Property profile & analytics
OFF-MARKET
Estimated value
$7,920,000
Outlet malls
121 Peter Pan Rd Independence, KS 67301-7307
Entity Owned
Free & Clear
Property ID
US33-0765770
Property summary
AI-generated overview
This 1.98-acre commercial land parcel in Independence, Kansas, offers excellent visibility from W Main Street and benefits from its proximity to a high-traffic Walmart, averaging nearly 118,000 visitors monthly. The property is zoned C-4, providing flexibility for a variety of commercial uses. Its location less than ten minutes from Independence Community College, with an annual enrollment of 900 students, presents a significant opportunity to tap into a local student population. Furthermore, the site's proximity to Elk City State Park, known for its extensive hiking and biking trails, adds to its appeal. This outparcel presents a unique opportunity for developers seeking high visibility and access to a substantial customer base and recreational amenities. The property is situated at 121 Peter Pan Rd, Independence, KS 67301, in Montgomery County. The address is verified, and the latitude and longitude coordinates are 37.22564193893557, -95.74359815687936 respectively. This location offers significant potential for commercial development given its strategic placement and zoning. The 1.98 acres provide ample space for a variety of commercial ventures.
Property profile
Verified
Property type
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Year built
2000
Total area
153,207 SF
Lot
19.19 ac (835,916 SF)
APN
087-35-0-20-01-009.00-0
UPID
US33-0765770
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Walmart House Cleaning Services Hardware & Home Improvement
-
Walmart Deli Food Market Restaurant
-
MoneyGram Bank Credit Union
-
Western Union Bank Credit Union
-
Ria Money Transfer - Walmart Bank Credit Union
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$7.92M
Owner & transaction history
WAL-MART REAL EST BUSINESS TRUST
WAL-MART REAL EST BUSINESS TRUST
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$12.7M
+24.9%
Warehouse, storage
$11.5M
+12.8%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Independence submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Independence submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RETAIL STORES
$10,170,000
Current use
AUTO REPAIR, GARAGE
$12,700,000
Change: +25% · Conversion: Difficult
WAREHOUSE, STORAGE
$11,470,000
Change: +13% · Conversion: Difficult
Blend value · Realmo final
$7.92M
Range $7.13M – $8.71M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$52 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2019Property tax & assessments
Tax year 2019
Tax billed
$260,596
Tax year 2019
Assessed value
$1,377,751
Assessed 2023
Previous assessed
$1,375,138
+0.2% YoY
Effective rate
18.91%
On assessed value
Assessed land
$71,738
Assessed improvement
$1,306,013
Land market value
$286,950
Improvement market value
$5,224,050
Total market value
$5,511,000
Applied tax rate
108.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Status
Off-Market
Year built
2000
Heating
SPACE
Cooling
YES
Stories
1
Total area
153,207 SF
Lot
19.19 ac (835,916 SF)
APN
087-35-0-20-01-009.00-0
UPID
US33-0765770
Jurisdiction
MONTGOMERY
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$10.2M
AUTO REPAIR, GARAGE
Est. value
$12.7M
WAREHOUSE, STORAGE
Est. value
$11.5M
RETAIL STORES Current
AUTO REPAIR, GARAGE
WAREHOUSE, STORAGE
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
2000
Heating
SPACE
Cooling
Yes
Stories
1
Lot
19.19 ac
Current owner
From public records · entity-resolved
WAL-MART REAL EST BUSINESS TRUST
Entity
Free & Clear · 0 yrs held
Mailing address
PO BOX 8050, BENTONVILLE, AR 72712-8055
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
No recorded transactions
No recorded transactions found for this property.
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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